The Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi has insisted that the Nigerian National Petroleum Corporation (NNPC) had no right retaining $10.8 billion oil revenue, saying it contributed to the drop in savings “that left the nation exposed to possible price shocks.” Sanusi who spoke in an interview with Bloomberg in Abuja, Friday, said: “Given where the oil price is, we should have more in terms of reserves and savings, and because we don’t have that we are susceptible to shocks in the event of a decline in the oil price.” The central bank governor had written a letter to President Goodluck Jonathan alleging the NNPC withheld $49.8 billion in revenue, sparking a public outcry. Thereafter, a reconciliatory meeting that involved the Minister of Finance, Dr. Ngozi Okonjo-Iweala, Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, the CBN Governor amongst others, had shown that unaccounted oil receipts stood at $10.8 billion. Sanusi, however, ma